Consider the following statements regarding 39 National Commodity and Derivatives Exchange Limited o...........

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Consider the following statements regarding 'National Commodity and Derivatives Exchange Limited of India (NCDEX)'

1) It is the only commodity exchange in the country promoted by national level institutions.

2) It offers futures trading in gold, silver, Brent Crude oil, agricultural products and base metals.

3) It launched GOLD HEDGE to give a transparent price benchmark of gold to the consumer.

Which of the given above statement (s) is/are correct?

1 only

2 and 3

2 only

1, 2 and 3

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Explanation:

All the statements are correct.

National Commodity & Derivatives Exchange Limited (NCDEX) is an online commodity exchange based in India. It has an independent board of directors and provides a commodity exchange platform for market participants to trade in commodity derivatives. It is a public limited company, incorporated on 23 April 2003 under the Companies Act, 1956 and obtained its Certificate for Commencement of Business on 9 May 2003.
The National Commodity Derivatives Exchange (NCDEX) launched an “innovative” gold contract “GOLDHEDGE” that will give a transparent and straightforward price benchmark of the yellow metal to the consumer. The contract, GOLDHEDGE, is available for trading from Jan 16, 2014.